There's a limited upside in oil prices, amid a shift from fossil fuels to renewable energy as global oil supply exceeds demand, said David Bailin, CIO of Citi Private Bank.
David Bailin, CIO of Citi Private Bank, said the cost of producing electricity from solar energy has in the last two years been lower than that of fossil fuels.Oil supply globally is running ahead of demand, which is already weighing down on energy prices, he noted.
Solar photovoltaic panels on the roof of Hackney council estate Bannister House in London, United Kingdom.The cost of producing electricity from solar energy has in the last two years been lower than that of fossil fuels — and that "permanent change" will limit how high oil prices can climb, according to Citi.
That shift is coming at a time when global oil supply is running ahead of demand, which is already weighing down on energy prices, David Bailin, chief investment officer at Citi Private Bank, said on Thursday.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Oil gains ahead of U.S.-China trade deal, snapping four-day declinesOil prices rose above $64.50 a barrel on Tuesday, snapping four straight days of...
Baca lebih lajut »
Oil prices rise as China agrees to more U.S. energy purchasesOil prices rose on Thursday, propelled higher by the long-anticipated signing of...
Baca lebih lajut »
Backstory Probably Explains Why Sports Bar Has Orioles, Lakers, Bears FlagsHOUSTON—Confused by the seemingly unrelated collection of team decor throughout the establishment, patrons of Miller’s Ale House speculated Thursday that a backstory probably exists to explain the Baltimore Orioles, Los Angeles Lakers, and Chicago Bears flags hanging outside the sports bar. “Well, maybe the owner was originally from Baltimore and grew up watching the Orioles, and if his parents were from Chicago, he might have become a Bears fan because of them,” said 29-year-old Frank Hartwell, adding that some logical, yet-to-be-determined reason must account for a signed and framed Kobe Bryant jersey hanging next to a Chicago Tribune front page celebrating the Bears’ 1985 Super Bowl win inside a Houston bar. “I guess there could be multiple owners, and if one of them is from L.A., but doesn’t like baseball, that’d be why there isn’t any Dodgers or Angels stuff. There’s also this one University of Tennessee Vols pennant at the back of the bar, and I have no idea what that’s about. I’m sure there’s a reasonable explanation for all this.” At press time, the clientele had given up trying to figure out the bar’s backstory after noticing multiple signed photos of former Toronto Blue Jays pitcher Dave Stieb hanging outside the bathrooms.
Baca lebih lajut »
This British Leader Thinks Meghan Markle Has Never Faced RacismAfter the home secretary said Meghan Markle has not been subjected to racism by the British tabloids, Kieran Yates explains why this dangerous denial of discrimination should worry us all.
Baca lebih lajut »
Chris Harrison Names the Bachelor He Had a ‘Hard Time Getting Along’ With‘The Bachelor’ host Chris Harrison exclusively explained to Us Weekly why he had trouble getting along with season 7 star Charlie O’Connell — read more
Baca lebih lajut »
You’re Not Crazy, the Odd-Numbered School Years Are the Hardest For KidsThe school years with odd numbers (first, third, fifth, and so on) are much harder on students than other years. Two teachers explain why.
Baca lebih lajut »